Public Employees Retirement System of Ohio Maintains Stake in Materion Corporation (NYSE:MTRN)
Public Employees Retirement System of Ohio maintained its position in shares of Materion Corporation (NYSE:MTRN) during the first quarter, Holdings Channel reports. The institutional investor owned 3,600 shares of the basic materials company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in Materion Corporation were worth $121,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Materion Corporation during the first quarter worth about $115,000. Victory Capital Management Inc. increased its position in shares of Materion Corporation by 50.5% in the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock worth $127,000 after buying an additional 1,271 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of Materion Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock worth $157,000 after buying an additional 308 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Materion Corporation during the first quarter worth about $160,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Materion Corporation by 1.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock worth $171,000 after buying an additional 96 shares during the last quarter. 89.04% of the stock is owned by institutional investors.
Shares of Materion Corporation (NYSE MTRN) traded up 0.66% during trading on Monday, hitting $37.95. The stock had a trading volume of 9,975 shares. Materion Corporation has a one year low of $26.89 and a one year high of $41.22. The stock has a market cap of $760.44 million, a P/E ratio of 30.63 and a beta of 1.16. The stock’s 50 day moving average price is $37.83 and its 200-day moving average price is $36.05.
Materion Corporation (NYSE:MTRN) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. The business had revenue of $295.80 million for the quarter, compared to analyst estimates of $254.28 million. During the same period last year, the business earned $0.31 EPS. The company’s revenue was up 18.4% on a year-over-year basis. Analysts expect that Materion Corporation will post $1.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.06%. Materion Corporation’s payout ratio is 32.26%.
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A number of brokerages have recently issued reports on MTRN. BidaskClub downgraded Materion Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price target on shares of Materion Corporation in a research report on Friday, July 7th. Finally, Zacks Investment Research downgraded Materion Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $36.67.
In related news, insider Richard J. Hipple sold 5,000 shares of Materion Corporation stock in a transaction on Friday, May 26th. The shares were sold at an average price of $34.17, for a total transaction of $170,850.00. Following the sale, the insider now directly owns 114,591 shares in the company, valued at approximately $3,915,574.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard J. Hipple sold 2,500 shares of Materion Corporation stock in a transaction on Friday, May 19th. The stock was sold at an average price of $34.17, for a total transaction of $85,425.00. Following the sale, the insider now owns 124,591 shares in the company, valued at $4,257,274.47. The disclosure for this sale can be found here. Insiders sold a total of 75,500 shares of company stock worth $2,694,520 over the last 90 days. Company insiders own 2.90% of the company’s stock.
Materion Corporation Company Profile
Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
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